Masters of the Universe: Apple First Company Worth $1 Trillion
04 August, 2018, 02:00 | Author: Darnell Patrick
What seemed to be once unthinkable is now a reality: with Apple's stock price hitting an all-time high of $207.05 on Thursday, the tech titan has become the first listed United States company to boast of a trillion-dollar market valuation.
The iPhone maker's market capitalisation reached the figure in afternoon trading in NY as its shares rose above $207.
The company, which was synonymous with computers, is now known more for its phones - the trillion dollar market cap coming 11 years after it launched the iPhone and 38 years after it went public in 1980.
Before the release of the iPhone, Apple was reporting revenue of less than $20bn and profits of less than $2bn from the sale of its Mac personal computers in 2006.
In its quarterly 10-Q form submission that took place last Wednesday, Apple disclosed that it possessed 4,829,926,000 shares as of July 20, 2018. There's no fundamental difference between Apple being worth $999 billion and $1.01 trillion.
Even with its $1,000,000,000,000 stock market value, many analysts do not view Apple's shares as expensive.
The symbolic stock market accomplishment is a "natural result" given Apple's winning steps, and is "certainly not the finish line", Creative Strategies analyst Carolina Milanesi reasoned in an AFP interview. Thomson Reuters information shows that Chinese oil company PetroChina reached that level in 2007, although it has since lost much of that value.
The world's most valuable company has also goosed its stock price through buybacks.
One of five US companies since the 1980s to take a turn as Wall Street's largest company by market capitalization, Apple could lose its lead to the likes of Alphabet Inc GOOGL.O or Amazon.com Inc AMZN.O if it does not find a major new product or service as global demand for smartphones loses steam.
"Alphabet's pace of growth simply isn't as impressive as Amazon's and Apple's".
APPLE OFFICIALLY BECAME the world's first trillion-dollar company on Thursday. This is just the beginning of a new chapter for the company - one in which it will have to choose its priorities more carefully now than ever. On Thursday, Amazon's market capitalization was around $874 billion. However, the share price quickly fell back, leaving the company worth just $962 billion at the time of writing.
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